400-Unit Apartment Project Scores Approval on Broadway, Triggering Inner Sydney Housing Debate

A major new housing project at 75 Broadway, just a kilometre from Sydney Town Hall, has secured final approval from the City of Sydney Council. The $600 million redevelopment, led by developer Greencore Living, will bring 400 new apartments and a mix of retail and public open space to the fast-changing western edge of the CBD.

Why It Matters: Pressure on Sydney’s Inner-Ring

With Sydney’s median house price stuck above $1.4 million according to CoreLogic’s June figures, and buyer competition especially fierce in the city’s inner ring, any injection of new supply close to the action is closely watched. The Broadway-George Street corridor has been in planning limbo for years, with tight restrictions frustrating developers and renters alike. The new approval is the largest in the precinct since the Central Park complex opened on the former brewery site in 2014, and is likely to intensify debate over height, density, and transport links in Ultimo, Chippendale and Haymarket.

The development covers more than 9,000sqm along Broadway, wrapping around Jones Street and facing the heritage-listed UTS Tower. It will include a supermarket, childcare centre, and landscaped public plaza opening out towards Victoria Park, with plans to restore a historic warehouse façade on Buckland Street. Council planners highlighted the project’s proximity to Central Station and flagged that at least 12% of units must be designated as key worker or affordable housing under the City’s inclusionary zoning policy.

Crunching the Numbers: Demand, Supply and Dollars

Latest property data from Domain shows auction clearance rates in the City of Sydney and Inner West holding at 70% through last quarter, driven by low landlord churn and strong post-pandemic migration. Local stock remains tight: only 107 new apartments were completed in the area in the year to March, according to the NSW Department of Planning. That’s far short of what planners say is necessary to keep up with the estimated 11,000 extra residents expected in the inner ring by 2031. The new Broadway precinct will also include eight retail tenancies and 350 new underground parking spaces, key factors as WestConnex and light rail extensions rework nearby traffic patterns.

Sydney Lord Mayor Clover Moore has previously pushed for stronger affordability provisions and sustainable design, both conditions attached to the Greencore plan. Market agents expect the first stage of sales will test appetite for two-bedroom apartments starting around $1.3 million—still slightly below established Ultimo and Surry Hills benchmarks.

Next Steps: What Buyers, Renters and Locals Can Expect

Construction is tipped to begin before Christmas, with the first completion stage scheduled for early 2029. Local residents should brace for significant works along Broadway, Myrtle Street and adjacent bike lanes, with the City promising detailed consultation over access and parking impacts. Buyers interested in early off-the-plan opportunities have been told to register expressions of interest via the Greencore website, while affordable housing allocations will be handled in partnership with City West Housing.

Meanwhile, planning monitors warn this approval is a taste of things to come: The state government’s new Targeted Housing Acceleration Program identifies a dozen more sites from Pyrmont to Redfern where density could soon jump. For now, the Broadway approval draws a new battle line in Sydney’s struggle to house its growing CBD workforce while preserving liveability for long-time locals.